In Case You Missed It: Week of July 18
11 U.S. cities with the greatest disparity between luxury and non-luxury rents; A tale of mixed markets; Median weekly earnings up in 2Q 2016; How Brexit could be a U.S. commercial real estate boon; How cities are responding to housing demand.
Apartment Markets Remain Mixed According to the Latest NMHC Quarterly Survey
National Multifamily Housing Council – July 21, 2016
“For the third quarter in a row, the Market Tightness (43) and Equity Financing (44) Indexes remained below the breakeven level of 50. Conversely, the Debt Financing Index came in at 62 and the Sales Volume Index landed right at 50.”
Median weekly earnings increase 2.9 percent for full-time workers
Bureau of Labor Statistics – July 21, 2016
“Weekly earnings of the nation’s 111.2 million full-time wage and salary workers were $824 (not seasonally adjusted) in the second quarter of 2016, an increase of 2.9 percent from a year earlier ($801).”
How Brexit could be a boon for America’s commercial real estate market
Yahoo Finance – July 19, 2016
“The fallout from Brexit will be somewhat complicated for US real estate markets, according to Jim Costello, senior vice president at data firm Real Capital Analytics. However, he expects the net result to be positive.”
Is Your Town Building Enough Housing?
Trulia – July 19, 2016
“Nationally, many cities are struggling with a lack of affordable housing. In others, a glut of housing helped wipe out the equity for homeowners in the crash. We look at how cities respond to housing demand. Whatever the local story – nationally, homebuilding is weak as prices are rising.”
11 U.S. Cities Showing the Greatest Disparity Between Luxury and Non-Luxury Apartment Rents
National Real Estate Investor – July 19, 2016
“In the second quarter of this year, rental rates for luxury apartments grew at 4.7 percent, while rents on middle market apartments grew by a robust 5.8 percent… which cities is there the greatest disparity between luxury and non-luxury rents? The 11 top cities might just surprise you.”
Economist Karl Case, Who Studied Housing Bubbles, Dies at 69
The Wall Street Journal – July 18, 2016
“Mr. Case, a professor emeritus of economics at Wellesley College, teamed up in the 1980s with Yale economist Robert Shiller to construct a home-price index that bears their names. He taught at Wellesley for 34 years and retired from the classroom in 2010.”
And now for something completely different…
New High-Tech Subway Station and Car Designs Unveiled by Governor Cuomo
6sqft – July 18, 2016
“Straphangers rejoice! As unveiled by Governor Cuomo at the NYC Transit Museum in Brooklyn today, the MTA has announced plans to build 1,025 new subway cars, and to modernize 31 of the city’s more than 400 stations.”